Warren Buffett Thinks The Rich Need To Be Taxed More To Raise Middle Class Morale


For months Warren Buffett has been out there shilling for higher taxes on the rich. He could easily pay more in taxes if he so chose, but he doesn’t. No doubt he uses every tax loophole available to him, and will continue to do so if his tax rate is increased. He’s different than the small business owner earning $250,000 and trying to keep a company afloat. But this isn’t about reality, and Buffett knows this. He also knows that the tax increases Obama’s looking for would be a drop in the bucket when it comes to the national debt and the deficit. So now he’s resorting to insulting middle class Americans to make the case.

I think [tax increases] would have a great effect in terms of the morale of the middle class, who have seen themselves paying high payroll taxes, income taxes. And then they watch guys like me end up paying a rate that’s below that, you know, paid by the people in my office.

Hard working middle class Americans don’t sit around worrying about what tax rate Warren Buffett pays on interest and dividends. The only reason we know anything about his tax rate is because he and the politicians have politicized it. What we don’t appreciate is this monstrous tax code that allows rich people like Buffett to hire expensive tax attorneys and experts so they can avoid paying taxes. Buffett isn’t proposing simplifying the tax code. He isn’t proposing reducing spending and the national debt that’s going to bankrupt our middle class children.

Middle class morale would improve with a growing economy and a stronger dollar. Lower gas and energy prices would improve middle class morale. A government that balances its books by keeping spending in line with revenue would improve middle class morale. Limousine liberals like Warren Buffett don’t do anything to improve middle class morale.

What an arrogant condescending SOB.

Real Clear Politics has the full quote and the video.